$ETH Down ~7% on the Week as EIP-7702 Gets Named in the Hack
• ETH is near $2,241, -1.2% 24h and -6.8% on the week, ~55% below its ATH.
• Binance's Richard Teng said an EIP-7702 delegation let the attacker control a hot wallet without normal approvals.
• Experts quoted by Cointelegraph say 7702 didn't cause the hack but likely amplified losses. A new draft would let wallets permanently disable 7702 delegation.
Verdict: Bearish
Short term, I expect a retest of the $2,174 weekly low while ETH stays under $2,302.
Not financial advice. DYOR.
$ETH
• ETH is near $2,241, -1.2% 24h and -6.8% on the week, ~55% below its ATH.
• Binance's Richard Teng said an EIP-7702 delegation let the attacker control a hot wallet without normal approvals.
• Experts quoted by Cointelegraph say 7702 didn't cause the hack but likely amplified losses. A new draft would let wallets permanently disable 7702 delegation.
Verdict: Bearish
Short term, I expect a retest of the $2,174 weekly low while ETH stays under $2,302.
Not financial advice. DYOR.
$ETH
